Poland Economy Expands 0.9% in Q2
The Polish economy advanced 0.9 percent in the second quarter of 2016, following 0.1 percent contraction in the previous period and in line with preliminary estimates.
Public spending grew 0.7 percent after shrinking 0.1 percent in the first three months of 2016. Household spending went up 0.6 percent, following a 0.9 percent gain in the previous quarter.
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In contrast, gross fixed capital formation contracted 1.2 percent, following a 1.5 percent decline in the previous period.
The net exports had positive influence on economic growth and contributed +0.8 percentage points against -0.9 percentage points a quarter earlier.
Year-on-year, the GDP expanded 3.1 percent, accelerating from 3 percent growth in the first quarter of 2016. The economy is expected to expand 3.7 percent in 2016 and 3.6 percent in 2017, according to most recent spring forecasts from the European Commission.